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Revised in accordance with the New Homes Quality Code (October 2023)
1. GENERAL
1.1 The Company agrees not to sell or agree to sell the Property to another Buyer during the Reservation Period which begins on the Reservation Date and ends on the Reservation Expiry Date shown on the Reservation Agreement. The Reservation is subject to these terms and conditions.
The Buyer agrees to use all reasonable endeavours to proceed to an exchange of Contracts to purchase the Property on or before the Reservation Expiry Date.
1.2 The Price and any marketing incentives shall only remain valid during the Reservation Period and may be varied by the Company if contracts have not been exchanged by the Reservation Expiry Date.
1.3 Where marketing incentive are offered as part of the terms of sale, specific conditions may also apply to the offer which will supersede the conditions outlined in sections 2 to 5.
Where the Buyer has ordered Options specific Terms and Condition apply to the order which are shown on the Options Order Form.
1.4 The Company may need to make reasonable variations to the time periods in these terms and conditions in relation to any particular property or development and will notify the Buyer of any such variations.
1.5 The terms of the Reservation relate only to a specific plot and are not transferable to other plots.
1.6This Reservation Agreement may be signed in any number of counterparts, each of which, when signed and delivered (to include delivery by email), shall be an original and all of which together shall constitute the same Reservation Agreement. Scanned signatures and any other electronic signature (whatever form the electronic signature takes including digital signatures) shall be deemed the same as original signatures and each party agrees that these shall be considered legal and binding for the purposes of this Reservation Agreement.
1.7 The property is sold subject to a number of Title Conditions that cover a range of matters from the permitted use of the property to the allocation and use of common parts etc. These are included in the Title pack that will be issued to your Solicitor and you should seek further clarification from them on the Conditions that apply to the property before exchanging contracts.
2. RESERVATION FEE
2.1 The Buyer is entitled to a 14-day cooling off period in which they may cancel the reservation and receive a full refund of their reservation fee subject to condition 2.4 below.
2.2 If the Buyer cancels the Reservation or withdraws from the proposed purchase before the legal documents are issued to the Buyers Conveyancer then the Reservation Fee will be refunded less the sum of £100.00 which will be retained by the Company towards its administrative expenses, unless cancellation is within the 14 day cooling off period.
2.3 If the Buyer cancels the Reservation or withdraws from the proposed purchase after the issue of the legal documents to the Buyer’s Conveyancer then the Reservation Fee will be refunded less the sum of £500.00 which will be retained by the Company towards its legal and administrative expenses, unless cancellation is within the 14 day cooling off period.
2.4 In the event of the Buyer cancelling or withdrawing from the reservation, the Buyer must make their Sales Executive and Conveyancer aware of their decision and complete the Reservation Cancellation Form with their Sales Executive to receive any relevant refunds of their Reservation Fee.
2.5 If the Buyer exchanges Contracts for the purchase of the property the whole of the Reservation Fee will be credited towards the purchase of the property.
3. CASH/MORTGAGE FUNDED PURCHASES
3.1 Notwithstanding the provisions of condition 1.4 if the Buyer does not, for any reason, exchange contracts for the purchase of the property on or before the Reservation Expiry Date, the reservation shall automatically expire at 5pm on that date, in which case the Company shall refund the Reservation Fee less the administration fee of £500.00.
4. INVESTMENT PURCHASES (excluded from NHQC)
4.1 The minimum reservation fee for properties purchased by investors (both private individuals and companies) is 1% of the Price.
4.2 An investor must pay a minimum of 10% deposit upon exchange of contracts.
4.3 If the Buyer cancels the Reservation or withdraws from the proposed purchase before the legal documents are issued to the Buyers Conveyancer then the Reservation Fee will be refunded less the sum of £100.00 which will be retained by the Company towards its administrative expenses.
4.4 If the Buyer cancels the Reservation or withdraws from the proposed purchase after the issue of the legal documents to the Buyer’s Conveyancer then the Reservation Fee will be refunded less the sum of £500.00 which will be retained by the Company towards its legal and administrative expenses.
5. OPTIONAL EXTRAS PAYMENT
5.1 The availability of Optional Extras is at the discretion of the Company and is subject to both the construction stage of the property and specific Terms and Conditions which apply.
5.2 If as a consequence of the construction stage of the property the company is unable to process all or any part of an order for Optional Extras, for which payment has already been made by the Buyer, only payment for those items which cannot be included in the property will be refunded in full to the Buyer.
5.3 If for any reason, not being the fault of the Company, the sale and purchase of the property does not proceed, the Company reserves to itself, in its absolute discretion, the right to retain any costs they have incurred in relation to Optional Extras. We are entitled to retain any monies we have received for options and in the event we have installed them we can deduct any contractual costs still outstanding.
6. TAXATION
6.1 Value Added Tax, where applicable, is included at the current appropriate rate. Stamp Duty Land Tax is payable on all property transactions; Buyers should take advice from their Conveyancer.
7. DATA PROTECTION ACT
7.1 We are committed to protecting your privacy. This notice briefly details how we will use your personal data. For more detailed information please see our privacy policy on the website: Taylor Wimpey Privacy Policy.
We will process personal data relating to you, any individual purchasing a property jointly with you and sometimes people living with you. If you provide us with any personal data relating to another individual, usually a joint buyer or person living with you, you confirm and agree that you are responsible for and agree that you have the consent and agreement of that individual to provide to us with their personal data and for us to process it in accordance with this notice. Personal data will be collected from you, your joint buyer and information obtained from third-parties, including financial and legal advisors and estate agents.
This personal data will be processed by us in both electronic and manual form. The personal data will be used for: (i) verifying identities; (ii) sale/purchase of properties and associated property options; (iii) marketing of properties and associated property options; (iv) to manage our relationship with you and to improve our services. We may, with your consent, use the personal data for our own marketing purposes and for the marketing purposes of our group of companies. We may store or process personal data outside of the European Economic Area (EEA), as it is currently defined.
We will provide personal data to relevant third-parties in connection with the sale of a property to you, e.g. third-party contractors and suppliers (for example, in relation to the options needed to complete on your property); our financial / legal advisors and estate agents (for example, to aid in the contract completion of your property); the NHBC (for example, in relation to the warranty on your property); the NHQC (for example, in relation to an ombudsman complaint); utilities suppliers and local authorities (for example, in relation to the setup and maintenance of your property).
Revised in accordance with the Consumers Code for New Homes Quality Code (Oct 2023)
1. GENERAL
1.1 The Company agrees not to sell or agree to sell the Property to another Buyer during the Reservation Period which begins on the Reservation Date and ends on the Reservation Expiry Date shown on the Reservation Agreement. The Reservation is subject to these terms and conditions. The Buyer agrees to use all reasonable endeavours to proceed to Conclude Missives to purchase the Property on or before the Reservation Expiry Date.
1.2 The Price and any marketing incentives shall only remain valid during the Reservation Period and may be varied by the Company if Missives have not been concluded by the Reservation Expiry Date.
1.3 Where marketing incentive are offered as part of the terms of sale, specific conditions may also apply to the offer which will supersede the conditions outlined in sections 2 to 5.
Where the Buyer has ordered Options specific Terms and Condition apply to the order which are shown on the Options Order Form.
1.4 The Company may need to make reasonable variations to the time periods in these terms and conditions in relation to any particular property or development and will notify the Buyer of any such variations.
1.5 The terms of the Reservation relate only to a specific plot and are not transferable to other plots.
1.6 This Reservation Agreement may be signed in any number of counterparts, each of which, when signed and delivered (to include delivery by email), shall be an original and all of which together shall constitute the same Reservation Agreement. Scanned signatures and any other electronic signature (whatever form the electronic signature takes including digital signatures) shall be deemed the same as original signatures and each party agrees that these shall be considered legal and binding for the purposes of this Reservation Agreement.
1.7 The property is sold subject to a number of Title Conditions that cover a range of matters from the permitted use of the property to the allocation and use of common parts etc. These are included in the Title pack that will be issued to your Solicitor and you should seek further clarification from them on the Conditions that apply to the property before exchanging contracts.
2.RESERVATION FEE
2.1 The Buyer is entitled to a 14-day cooling off period in which they may cancel the reservation and receive a full refund of their reservation fee subject to condition 2.4 below.
2.2 If the Buyer cancels the Reservation or withdraws from the proposed purchase before the legal documents are issued to the Buyers Conveyancer then the Reservation Fee will be refunded less the sum of £100.00 which will be retained by the Company towards its administrative expenses, unless cancellation is within the 14 day cooling off period.
2.3 If the Buyer cancels the Reservation or withdraws from the proposed purchase after the issue of the legal documents to the Buyer’s Conveyancer then the Reservation Fee will be refunded less the sum of £500.00 which will be retained by the Company towards its legal and administrative expenses, unless cancellation is within the 14 day cooling off period.
2.4 In the event of the Buyer cancelling or withdrawing from the reservation, the Buyer must make their Sales Executive and Conveyancer aware of their decision and complete the Reservation Cancellation Form with their Sales Executive to receive any relevant refunds of their Reservation Fee.
2.5 If the Buyer concluded Missives for the purchase of the property the whole of the Reservation Fee will be credited towards the purchase of the property.
3. CASH/MORTGAGE FUNDED PURCHASES
3.1 Notwithstanding the provisions of condition 1.4 if the Buyer does not, for any reason, conclude Missives for the purchase of the property on or before the Reservation Expiry Date, the reservation shall automatically expire at 5pm on that date, in which case the Company shall refund the Reservation Fee less the administration fee of £500.00.
4. INVESTMENT PURCHASES (excluded from NHQC)
4.1 The minimum reservation fee for properties purchased by investors (both private individuals and companies) is 1% of the Price.
4.2 An investor must pay a minimum of 10% deposit upon conclusion of Missives.
4.3 If the Buyer cancels the Reservation or withdraws from the proposed purchase before the legal documents are issued to the Buyers Conveyancer then the Reservation Fee will be refunded less the sum of £100.00 which will be retained by the Company towards its administrative expenses.
4.4 If the Buyer cancels the Reservation or withdraws from the proposed purchase after the issue of the legal documents to the Buyer’s Conveyancer then the Reservation Fee will be refunded less the sum of £500.00 which will be retained by the Company towards its legal and administrative expenses.
5. OPTIONAL EXTRAS PAYMENT
5.1 The availability of Optional Extras is at the discretion of the Company and is subject to both the construction stage of the property and specific Terms and Conditions which apply.
5.2 If as a consequence of the construction stage of the property the company is unable to process all or any part of an order for Optional Extras, for which payment has already been made by the Buyer, only payment for those items which cannot be included in the property will be refunded in full to the Buyer.
5.3 If for any reason, not being the fault of the Company, the sale and purchase of the property does not proceed, the Company reserves to itself, in its absolute discretion, the right to retain any costs they have incurred in relation to Optional Extras. We are entitled to retain any monies we have received for options and in the event we have installed them we can deduct any contractual costs still outstanding.
6. TAXATION
6.1 Value Added Tax, where applicable, is included at the current appropriate rate. Stamp Duty Land Tax is payable on all property transactions; Buyers should take advice from their Conveyancer.
7. DATA PROTECTION ACT
7.1. We are committed to protecting your privacy. This notice briefly details how we will use your personal data. For more detailed information please see our privacy policy on the website: Taylor Wimpey Privacy Policy. We will process personal data relating to you, any individual purchasing a property jointly with you and sometimes people living with you. If you provide us with any personal data relating to another individual, usually a joint buyer or person living with you, you confirm and agree that you are responsible for and agree that you have the consent and agreement of that individual to provide to us with their personal data and for us to process it in accordance with this notice. Personal data will be collected from you, your joint buyer and information obtained from third-parties, including financial and legal advisors and estate agents.
This personal data will be processed by us in both electronic and manual form. The personal data will be used for: (i) verifying identities; (ii) sale/purchase of properties and associated property options; (iii) marketing of properties and associated property options; (iv) to manage our relationship with you and to improve our services. We may, with your consent, use the personal data for our own marketing purposes and for the marketing purposes of our group of companies. We may store or process personal data outside of the European Economic Area (EEA), as it is currently defined.
We will provide personal data to relevant third-parties in connection with the sale of a property to you, e.g. third-party contractors and suppliers (for example, in relation to the options needed to complete on your property); our financial / legal advisors and estate agents (for example, to aid in the contract completion of your property); the NHBC (for example, in relation to the warranty on your property); the NHQC (for example, in relation to an ombudsman complaint); utilities suppliers and local authorities (for example, in relation to the setup and maintenance of your property).
